'Counterfeit goods are costing Wales millions each year', says non-profit organisation
New figures reveal counterfeit goods are costing Wales millions each year, fuelling organised crime and harming local businesses- according to a non-profit organisation.
New figures reveal counterfeit goods are costing Wales millions each year, fuelling organised crime and harming local businesses- according to a non-profit organization.
In Wales, the Transnational Alliance to Combat Illicit Trade, found key hotspots were in Cardiff, Swansea, and Wrexham, with items including fake fashion, cosmetics, tobacco and electronics.
Experts from TRACIT warn the trend could poses serious risks – 'from health dangers to undermining well-loved Welsh brands'.
Jeff Hardy, Director-General of the Transnational Alliance to Combat Illicit Trade, says:
"There are increases in investigations and in raids that are undertaken by the government, but it's simply not enough.
"They're barely keeping up with the growth of counterfeit.
"So what what the UK government, whether it's at the local level or the national level, needs to do is step up enforcement of the existing laws, step up the penalties that are applied to those criminals who are caught".
The research by TRACIT show:
· On average, Brits have purchased 10 fake items in the past six months, with clothing (53%), cosmetics (30%), and alcohol (23%) and tobacco (20%) being the most commonly bought counterfeit products.
· 21% of Brits feel comfortable purchasing fake goods.
· 43% of 16–24-year-olds say they feel pressured to own designer items – an estimated 6.5 million people say they’ve turned to counterfeit items for this reason.
· 70% of Brits say they would stop buying fakes if they knew it supported illicit trade
A fifth (21%) of Brits say they feel comfortable purchasing fake goods and 56% of those aged 16 to 34 have admitted to purchasing counterfeit items, with the average Brit admitting to buying as many as ten fake goods in the past six months – the most commonly bought items include clothing, cosmetics, alcohol and tobacco.
The most recent OECD report on trade in counterfeit goods outlines that the UK economy loses over 46,000 jobs and nearly £2.44 billion in public revenue a year due to counterfeiting and piracy, impacting industries from automotive to electronics.
The UK Government has been approached to comment.